Bill Morneau

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Three strikes and Justin Trudeau is out

Updated (March 2nd) - In my latest Howe Street interview with Jim Goddard, I make the case Justin Trudeau and his cabinet can no longer effectively govern. The obstacles facing the Trudeau regime go beyond the question of whether a law may have been broken by him or his government in trying to get the Attorney General of Canada at the time, Jody Wilson-Raybould, to change her mind on prosecuting SNC-Lavalin (SNC). Leaving that issue aside for the lawyers, the reality of the situation boils down to:

  1. Favouring the well-connected and powerful
  2. Putting national unity at risk
  3. A lack of trustworthiness

The first surprise we learned from Ms. Wilson-Raybould in her February 27th testimony (click to watch, listen or download)  was how Bill Morneau's office was involved. As it turns out, according to her testimony, his office was one of the first to intervene to try and get her to change her mind. According to testimony, his office continued with interventions despite being asked to stop. So, here we have Canada's Finance Minister who appeared allegedly to be willing to have his office push the boundaries of the law to help a large Canadian corporation facing corruption charges.

Sound Bites: Money laundering industry a big winner in Trudeau's war with small business

From a Vancouver perspective, the Justin Trudeau and Bill Morneau war with small business over proposed tax increases makes no sense. If this duo are really interested in tax fairness, why are they not devoting the same energy and government resources to cleaning up the money laundering industry and its related big dollar tax evasions?

Sound Bites: What's next for global stock and Vancouver real estate markets?

July 27, 2016 - Yesterday the Federal Reserve released a non-controversial policy statement essentially saying that risks were not as high as last meeting (which took place right before Brexit) and that the labour market was showing some signs of strength. Essentially, it left itself enough wiggle room for the rest of the year to either raise rates, do nothing, or backtrack should the data turn south.

Weekly Sound Bite: The loonie goes out like a lion

It took longer than I expected, but the loonie is now trading about one U.S. cent higher than when Justin Trudeau took over as Prime Minister on November 4th of last year. On Thursday the Canadian dollar was worth 77.11 U.S. cents according to Thomson Reuters data. So can Justin Trudeau and his Finance Minister Bill Morneau take credit for the loonie's comeback?

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